Weekly Commodity Report By EPIC RESEARCH 24th Feb 2014

GOLD MCX TECHNICAL VIEW

MCX Gold April as seen in the weekly chart prices rallied sharply breaking both the resistance levels

towards 30,260 levels, but could not sustain corrected back towards 29,900 levels. For the next week

we expect gold prices to find support around 29,300 levels. Trading consistently below 29,300 levels

would lead towards the strong support at 29,050 levels and then finally towards the major support at

28,800 levels. On the other side Resistance is now observed around 30,500 levels.Trading

consistently above 30,500 levels would lead towards the strong resistance at 31,000 levels, and then

finally towards the Major resistance at 31,500 levels.

1. Buy GOLD MCX Above 30000 TGT 30150/30350 SL 29750

2. Sell GOLD MCX Below 29700 TGT 29550/29350 SL 29970

3.  

SILVER MCX TECHNICAL VIEW

MCX Silver March opened the week at 47, 492 levels and made weekly low of 46,932 levels and high

of 48,090 levels and manage to close near to the same opening levels. For the next week we expect

silver prices to find support around 46,850 levels. Trading consistently below 46,850 levels would lead

towards the strong support 46,000 levels. On the other side Resistance is now observed around

48,200 levels. Trading consistently above 48,200 levels would lead towards the strong resistance at

49,200 levels, and then finally towards the Major resistance at 50,000 levels.

1. Buy SILVER MCX Above 47900 TGT 48250/48750 SL 47400

2. Sell SILVER MCX Below 47150 TGT 46800/46300 SL 47650

3.  

NATURAL GAS MCX DAILY CHART

Natural gas failed to cross Psychological level of 400 and closed at 378 on Friday. We expect

price can find support at 360-355 level and below this level can take price to weekly low at 325

level, on the other side buying sentiment only above 400 for the level 420-425.

1. Sell NATURAL GAS MCX Below 350 TGT 340/325 SL 365

2. Buy NATURAL GAS MCX Above 400 TGT 410/425 SL 380

CRUDEOIL MCX TECHNICAL VIEW

MCX Crude prices may find support in the range of 6250 –6280 levels. Closing below 6200 levels

will take price to 6050 . Resistance is now observed in the range of 6430-6450 levels.

1. Buy CRUDE OIL MCX Above 6300 TGT 6220/6100 SL 6440

2. Sell CRUDE OIL MCX Below 6460 TGT 6540/6700 SL 6350

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